Pliant Therapeutics (NASDAQ:PLRX) Price Target Raised to $48.00

Pliant Therapeutics (NASDAQ:PLRX) had its price target boosted by Oppenheimer from $47.00 to $48.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price target would indicate a potential upside of 257.94% from the company’s current price.

A number of other research analysts also recently commented on PLRX. HC Wainwright reaffirmed a “buy” rating and set a $36.00 target price on shares of Pliant Therapeutics in a report on Tuesday. Needham & Company LLC reissued a “buy” rating and set a $38.00 price target on shares of Pliant Therapeutics in a report on Tuesday. Finally, Royal Bank of Canada lifted their price target on Pliant Therapeutics from $50.00 to $54.00 and gave the company an “outperform” rating in a report on Tuesday, March 5th. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Pliant Therapeutics has an average rating of “Buy” and an average price target of $45.67.

Pliant Therapeutics Price Performance

PLRX opened at $13.41 on Tuesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 17.72 and a current ratio of 17.72. Pliant Therapeutics has a 1-year low of $11.21 and a 1-year high of $24.74. The company has a 50-day moving average of $14.25 and a 200-day moving average of $15.41. The company has a market capitalization of $808.89 million, a P/E ratio of -4.81 and a beta of 1.19.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. grew its position in Pliant Therapeutics by 97.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,529 shares of the company’s stock worth $27,000 after purchasing an additional 754 shares in the last quarter. Arizona State Retirement System grew its stake in Pliant Therapeutics by 6.4% in the fourth quarter. Arizona State Retirement System now owns 12,545 shares of the company’s stock valued at $227,000 after purchasing an additional 754 shares in the last quarter. ProShare Advisors LLC grew its stake in Pliant Therapeutics by 9.1% in the first quarter. ProShare Advisors LLC now owns 14,489 shares of the company’s stock valued at $216,000 after purchasing an additional 1,203 shares in the last quarter. New York State Common Retirement Fund raised its stake in shares of Pliant Therapeutics by 3.5% during the 3rd quarter. New York State Common Retirement Fund now owns 50,575 shares of the company’s stock worth $877,000 after purchasing an additional 1,725 shares in the last quarter. Finally, Quest Partners LLC acquired a new stake in shares of Pliant Therapeutics during the 4th quarter valued at about $37,000. 97.30% of the stock is owned by hedge funds and other institutional investors.

About Pliant Therapeutics

Pliant Therapeutics, Inc, a clinical stage biopharmaceutical company, discovers, develops, and commercializes novel therapies for the treatment of fibrosis and related diseases in the United States. The company's lead candidate is bexotegrast, an oral, small-molecule, dual selective inhibitor of avß6 and avß1 integrins, which is in phase 2b trials for idiopathic pulmonary fibrosis and in phase 2a trial for primary sclerosing cholangitis.